Wood Furniture Market in India – Growth, Trends, Impact of COVID-19, and Forecast (2021)
The wood furniture market dominates the furniture market in India. The demand for wooden furniture has increased dramatically in India. India thrives on the natural resources of several species of trees, and the wood furniture industry uses both native and imported wood.
New York, July 20, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Wood Furniture Market in India – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” – https://www.reportlinker.com/p06106049/?utm_source=GNW
India is one of the world’s largest importers of timber. However, the furniture industry in India makes a marginal contribution to the gross domestic product (GDP), which is around 0.5%.
The popularity of traditional furniture has led to an increase in the demand for wooden furniture in recent years. Popular types of wood used in the Indian furniture industry are teak, sandalwood, ebony, walnut, salt, red cedar, and rosewood. The furniture market in India is shifting from the unorganized sector to the organized industry to adapt to the rapid changes in the furniture market. Critical states for the wooden furniture market in India are Kerala, Punjab, Andhra Pradesh, West Bengal, Uttar Pradesh and West Bengal.
With advancements in technology, such as access to smart gadgets and the availability of high-speed 4G networks, the online distribution channel is gaining popularity for buying home furnishings in the country. Urbanization and the growing number of nuclear families in India are adding to the demand for wood furniture products. Changing lifestyles, tastes and preferences for different types of wood furniture are accelerating the growth of the wood furniture industry.
Engineered wood furniture is also gaining popularity in Indian cities. The main cause is the increase in demand for ready-to-assemble furniture in cities. In addition, the ease of shopping on the e-commerce platform also encourages the growth of modular and multi-functional furniture in the market for the purpose of decoration and convenience. Leather and glass furniture are developing as lucrative segments for furniture choices among the population which may restrain the growth of wooden furniture in India.
The COVID-19 pandemic has resulted in a temporary shutdown of furniture manufacturing activity in the country, but due to the increased time customers spend at home due to the lockdown and stay at home to maintain safe practices , the demand for wooden furniture has increased in the country. With the increase in working from home for employees and learning home practices for students, the demand for study tables, work tables and home office setups has helped the market to generate income. increased in the market.
Key market trends
Rising demand from the residential sector is boosting the market
The demand for wooden furniture in the Indian market is mainly driven by the residential sector due to the customer’s interest in using wooden furniture in homes for many purposes such as cabinetry, living room furniture and interior decoration. This increases the need for wood furniture such as sofa sets, dining sets, beds and chairs, which are also expected to experience prolific growth in the years to come. Apart from this, the demand for engineered wood furniture is also increasing in metropolitan cities, such as Delhi, Bangalore, Mumbai and other major cities. The residential real estate market has also experienced prolific growth over the past two years, owing to the increase in population and the growing demand for affordable housing, which is expected to further increase the demand for wood furniture on the market. the market.
Plywood is an important part of the wooden furniture market in India
Plywood is the most popular wood for furniture making in India. It is a manufactured wood panel made from thin sheets of wood veneer. Plywood is durable so it is widely used for any furniture / wood panel application in India wood furniture market. However, bamboo panels and veneer panels are also becoming popular in the Indian wood furniture market for furniture making. Greenply and Century ply dominate the organized plywood market in India. other market players include Sarda plywood, Archid Ply, Uniply, etc.
The wooden furniture market in India is competitive due to the presence of a large number of small local manufacturers in the market, accounting for a larger share of production. The south and north of India have a high demand for home furnishings, but the south is where most of the manufacturers and distribution networks are located. The need for kiln-dried hardwoods exported from the United States has increased by importers and manufacturers in the market.
The Indian wood furniture market offers huge opportunities for manufacturers to innovate and meet the growing demand in the wood furniture market. Local manufacturers partner with foreign manufacturers to improve their quality and designs in the market. The need for modular furniture offers immense opportunities for owners of wood furniture and hardware in the market. Furniture manufacturers consider several factors when designing furniture such as functionality, look, feel and value of furniture when designing furniture.
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